Seritage Growth Properties (NYSE: SRG)
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Seritage Growth Properties Return vs. S&P
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Seritage Growth Properties Company Info
Seritage Growth Properties operates as a real estate investment trust. The firm engages in the acquisition, ownership, development, redevelopment, management, and leasing of retail properties throughout the United States. Its property portfolio includes mall, shopping centers and freestanding locations. The company was founded on June 3, 2015 and is headquartered in New York, NY.
News & Analysis
Sometimes, companies with a lot of debt can be good turnaround stories.
After doubling so far in July, Seritage Growth Properties stock could potentially double again over the next two or three years.
Asset sales could be about to accelerate.
Sequential NOI growth is improving, leasing activity is accelerating, and Seritage has started to reduce its unwieldy debt load.
CEO Andrea Olshan's turnaround strategy hasn't inspired investors, so Seritage is now considering bolder moves to unlock value for shareholders.
Seritage Growth Properties is starting to pay down debt using some of its asset sale proceeds. But is it too little, too late?
Seritage Growth Properties wants to focus on residential development.
We're still a long way from the finish line, but this is a good first step.
Valuation
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